Unincorporated Businesses - Tax Issues and Planning
This course considers a range of technical and practical tax matters affecting the self-employed whether operating as a sole trader or in partnership.
Understanding core rules is essential to avoid pitfalls and maximise opportunities whether they are established or recent areas of tax law and practice. The session includes a review of the matters to be considered, when choosing and using this type of business structure.
Recent tax cases of significance will be included as well as new legislative developments.
Business structure
- Is this the right business structure?
- Status and the self- employed
- Is there a partnership?
Basis Period Reform 2023/24
- The mechanics including overlap relief
- Problem areas and client communications
National Insurance update and practical issues
Losses
- Efficient use of losses
- HMRC – the commercial challenge
- Anti-avoidance rules
Allowable deductions
- Capital Allowances update and current issues
- Travelling and subsistence – a minefield
- Working at home
Financing aspects
- Loan interest restrictions
- Loans to partnerships and s455
Pension tax savings
Risks and opportunities in capital tax reliefs
The above content may vary according to topical developments.
The above content relates to 2023 only.
Flexible solutions
We offer a range of solutions to meet your training needs. To discuss your memberships or bespoke packages needs contact us on 0330 058 7141 or email us.